FREDERICTON (GNB) – A new financial assistance policy for businesses has been introduced to help drive private sector growth and reduce risks to taxpayers while improving accountability.

“Our government is committed to strengthening New Brunswick’s economy by improving the way we do business,” said Finance and Treasury Board Minister Ernie Steeves. “This policy will enhance our funding structure by providing a consistent and structured approach for collecting information, evaluating, supporting and monitoring financial investments in our businesses.”

The government’s Financial Assistance to For-Profit Organizations Policy also addresses recommendations by the auditor general by creating a centralized process for financial assistance requests.

“This policy will be implemented for funding requests under Opportunities NB, the Regional Development Corporation and the Department of Agriculture, Aquaculture and Fisheries,” said Steeves. “This new approach contributes to our goal of having an affordable and responsive government.”

Those three departments and agencies have been selected for this new approach due to their active investments in New Brunswick businesses. The Department of Finance and Treasury Board will be responsible for overseeing and maintaining the policy.